Octagona Srl/Internationalization News/Selling in India: record for Italian exports
Selling in India: record for Italian exports

Selling in India: record for Italian exports

The Indian market has been following a positive growth trend for years and, despite the difficulties experienced by the country in the Covid period, the development prospects in the medium term remain optimistic. The numbers highlight a strong trend: India is experiencing a period of expansion and Made in Italy products are already the most appreciated. Italian companies can therefore take advantage of the opportunity to enter the country and give new impetus to turnover and profits.

 

Why sell to India?

In the current economic situation, characterized by the consequences of the Russian-Ukrainian conflict and the increase in raw material prices, India has proven to be an ideal market to overcome the difficulties that persist on the domestic market. In fact, the country is currently the fifth largest economy in the world, based on GDP in dollars at current prices. Furthermore, growth above 6% per year is expected for 2023. Given that it will also be confirmed in the forecasts for 2024. Numbers that place the Subcontinent at the center of Asia's market logic, now that China has lower economic growth prospects than expected up until a few years ago.

The increasingly large middle class therefore enjoys greater spending capacity than in the past, encouraging interest in international brands. Not only: India is also a country that is experiencing truly interesting digital development. By the end of 2023, internet users are expected to reach 840 million people, a figure that has doubled compared to just four years ago (in 2017 there were 422 million people).

 

The record of Italian exports to India

Among the European players, Italy represents the 4th largest exporter to India, preceded by Germany, Belgium and France. Strengthened by this data, Italian exports to India have actually touched the record figure of 4.8 billion euros, thus exceeding the pre-covid values of 2019 (3.9 billion euros). Furthermore, the data is part of a context of continuous growth, since already in 2021 Made in Italy exports to India had recovered pre-pandemic levels (3.87 billion euros).

But what is Italian export to India focused on? As can be seen from the graph below, Indian imports from Italy mainly feed the country's industrial system.

In detail, the most representative sector is that of machinery and appliances (1.5 billion euros), followed by chemicals and substances (424 million euros), and in third place come metal products (295 million euros). Completing the Top 5 are computers and electronic devices, products from waste treatment and remediation activities and, finally, electrical devices.

Selling in India, the right time is now

In fact, Made in Italy has a very positive reputation among the Indian business community: many people in the country know the vast potential that Italy-India cooperation can offer to both countries.

This is the opinion of Vishnu Krishna, Director of Octagona India: “Anything that is produced or designed in Italy usually has a positive impression on the Indian people. This is the best moment in recent years that Italian companies can exploit to enter or expand into the Indian market. Given the uncertainty that exists in global markets today due to a number of factors, India stands as one of the major large markets, with a GDP growing by 6% annually, a huge domestic market, tax incentives for starting local manufacturing businesses (Make in India), a young, English-speaking working class. There are not many examples of this type in the world today."

 

Conclusions

Vishnu Krishna's comment highlights the fact that investing abroad and entering into commercial agreements in a high-growth country like India can prove essential for the growth of your business and turnover. The time has come to ride the wave of economic growth, push the accelerator and immediately plan winning strategies that take all this into consideration.

Do you want to seize the right opportunities? The next successful company in India could be yours. Contact us and tell us about your internationalization project in India: we will study together the best solution for your needs.

READ ALSO:

India: business opportunities for Italian companies in 2023

The success of Italian companies in India

India bans the use of single-use plastic: what changes for exporting companies

SHARE ARTICLE

If you want to learn more about the content of this article

RECENT ITEMS

Export Made in Italy: i paesi più interessanti per il 2025

Export Made in Italy: i paesi più interessanti per il 2025

L'export Made in Italy è in crescita, e sempre più aziende italiane guardano con rinnovato interesse a mercati promettenti come...
Bando Connessi 2025: export e canali digitali

Bando Connessi 2025: export e canali digitali

La Camera di Commercio di Milano, Monza Brianza e Lodi ha annunciato il Bando CONneSSI 2025, mirato a sostenere le...
Export management, l’importanza dell’outsourcing 

Export management, l’importanza dell’outsourcing 

 I temi legati all'internazionalizzazione e all'export management stanno acquisendo un'importanza crescente ogni giorno. È ormai evidente che l'internazionalizzazione non rappresenta...

Get in contact
with us

Are you interested in our service?
Fill out the form or contact us at the number
+39 059 9770184